Servotech Power Systems gains over 4% on ₹20 crore order win from Bharat Petroleum

In a the exchange filing, on July 25, the Electric Vehicle (EV) charger manufacturer and solar solution provider said that it received an order from Bharat Petroleum Corporation Limited (BPCL) and other EV charger Original Equipment manufacturers (OEMs) for 400 DC Fast EV chargers units.

The company said that the additional order pertains to manufacturing, supply, installation and deploying EV chargers nationwide. These chargers will be specifically installed at BPCL petrol pumps as part of the BPCL E-drive Project.

Previously, Servotech Power Systems Ltd said that it received an order for 1,800 DC Fast EV chargers from BPCL and other EV charger OEMs. The initial order was valued at ₹120 crore and now the order value has been increased by 20%.

In a separate filing the company informed the stock exchanges that its conference call on Q1FY25 results has been scheduled at 4pm on Wednesday, July 31. Raman Bhatia, managing director of Servotech Power Systems, and Vipin Kaushik, finance controller of Servotech Power Systems, will join the Q1FY25 concall.

Servotech Power Systems Shares gain 4.40% to hit an intraday high of ₹129 apiece on the NSE. The stock was trading near its 52-week high of ₹129.81, previously touched on July 16.

However, the stock trimmed some of the gains to close 0.87% lower at ₹122.49 apiece on the NSE.